According to the monitoring of SunSirs, the average price of nitric acid on March 1st of this month was 2,483 RMB/ton, and on March 29th, the average price of nitric acid was 2,533 RMB/ton, with a price increase of 2.01%.
Analysis review
Ningxia Runxia Energy Chemical Co., Ltd. produces 150,000 tons concentrated acid annually. On March 29th, the factory price of 98% concentrated nitric acid was 2,600 RMB/ton, while that of mainstream enterprises in East China was 2,700-2,800 RMB/ton, and that of northern and central China was 2,400-2,650 RMB/ton. The market had sufficient supply of goods, high price trading was under pressure, and high-end prices were often sold at reduced prices. The downstream demand was relatively stable, supporting the supply and circulation of goods was acceptable, and the intention of making up for rising prices in low price regions in the market was still evident.
From March 1 to March 29, upstream liquid ammonia fell 9.64%. Downstream aniline rose 7.79%, TDI prices fell 8.72%, potassium nitrate prices fell 3.62%, and ammonium nitrate prices rose 0.92%.
Market outlook
As of the 29th, the overall inventory level in March remained low, and the overall start of construction fell in late February. The demand was moderate. The inventory of manufacturers in the main region of East China decreased significantly. In March, the overall demand was stable, and the overall inventory level was at a low level. Nitric acid analysts at SunSirs predict that the price of nitric acid may be dominated by a volatile and weaker trend.
